Nifty 50 has risen back well in the early trades. However, it has happened well within its broader sideways range. Nifty is stuck between 24,000 and 24,270 for about a week now. Within that, it is current trading at 24,222, up 0.58 per cent. The advances/declines ratio is at 31:19, this is positive.Nifty 50 OutlookNifty is now heading up towards the upper end of its 24,000-24,270 range. Need to see if a bullish breakout above 24,270 is happening today or not. If that happens, a rise to 24,380-24,400 can be seen during the day.Failure to breach 24,270 and a downward reversal will keep the sideways range intact. In that case, a fall to 24,150 is possible.A decisive break below 24,000 is needed to bring the index under pressure for a fall to 23,900-23,800.Nifty 50 FuturesThe Nifty 50 July Futures (24,198) is up 0.42 per cent. The 24,000-24,300 range remains intact. Intermediate resistance within the range is at 24,230, A break above it can take the contract higher towards the upper end of the range.We still have to wait for the range breakout to get clarity of the next leg of move.We continue to remain positive. So, we expect the Nifty 50 July Futures contract to breach 24,300 and rise to 24,400 initially and then to 24,600-24,700 eventually.The near-term picture will turn negative only of the contract breaks below 24,000. If that happens, 23,850-23,800 can be seen on the downside.Trade StrategySince the market continues to remain range bound, we suggest traders to stay out of the market.Supports: 24,000, 23,850Resistances: 24,300, 24,400Published on July 17, 2026